Majority of the regional markets have also moved into the base building consolidation phase except Shanghai index (SSEC), where it has just broken the 120 days MA support, and may go further down to test the support at 4335.
The bulls on the DJI are fighting back, and the index has rise about 545 points over two days to bring the DJI above the 13,000 mark, back to the uptrend channel and above the 200 days long term MA. The bull may meet some strong resistance around the 13,500 level. Whatever it is, at least the Dow is back on track, and may goes into a consolidation phase between 13,000 - 13,550.
The sentiment of our local market was really affected by the plunge of the RL group of stocks, taking the lead was ETITECH, COMINTL, OILCORP, and KBES. If one wants to play these kind of stocks, one must always be happy with the profit when one have it, don't try to take every drop out of it, then one may end up giving everything back and may even get roasted.
The plantation sector remain steady in anticipation of the listing of Synergy Drive tomorrow, hopefully SD will lift the sentiment of the market and kick-off a new round of rally. Some of the plantation stocks that are worth watching are Twsplnt, Kretam, Cepat and Harnlen.
Disclaimer: The above is not a recommendation to buy or sell, all suggestions mentioned are purely for academic study purposes for our trend trader club members only, and the author may have personal interest and position in some of the examples mentioned. Any losses incurred if you were to trade base on the study examples above is solely your own responsibility. Do consult your dealer before taking any action.